SATO Oyj
SATO Corporation announces investment grade issuer rating assigned by Moody’s
DGAP-News: SATO Oyj 2015-05-20 / 07:46 --------------------------------------------------------------------- SATO starts forming its secured funding structure towards mainly unsecured financing base Helsinki, Finland, 2015-05-20 07:46 CEST (GLOBE NEWSWIRE) -- SATO Corporation, Investor News, 20th May 2015 at 8:46 am Moody's Investor Service has today assigned SATO Corporation a first-time, long-term issuer credit rating of Baa3 with a stable outlook. The assigned rating reflects Moody's view of the company's competent management of a good quality, well-located residential property portfolio that produces steady cash flows, which are generated by a granular tenant base and underpinned by consistently high occupancy rates. Erkka Valkila, CEO of SATO: - SATO's strategic goal is to increase the value of the investment portfolio from current EUR2.6 billion to at least EUR4 billion by the end of 2020. Achieving an investment grade credit rating and forming a diverse funding structure support SATO's growth ambitions. Esa Neuvonen, CFO of SATO: - Public credit rating enables the utilization of international financial markets, which increases flexibility and efficiency in financial arrangements. The rating also supports our aim for gradually increasing the portion of unsecured financing. Diversified sources of funding help us to maintain financing costs on a competitive level. Moody's rating report on SATO can be found from here: https://www.moodys.com/research/Moodys-assigns-Baa3-rating-to-Sato-Oyj-stable-ou tlook--PR_324928 For more information please contact: Erkka Valkila, President and CEO, phone +358 201 34 4001 or +358 50 62 050 Esa Neuvonen, CFO, phone +358 201 34 4005 or +358 40 500 1003 SATO is one of Finland's leading corporate investors in housing. SATO's aim is to offer comprehensive alternatives in rental housing and an excellent customer experience. All told, SATO holds roughly 24,200 rental homes in Finland's largest growth centres and in St Petersburg. In our operations, we promote sustainable development and initiative-taking, and work in open interaction with our stakeholders to create added value. We operate profitably and with a long-term view. We increase the value of our housing property through investments, divestments and repair work. SATO Group's net sales in 2014 were EUR312.3 million, operating profit EUR191.3 million and profit before taxes EUR152.2 million. SATO's investment properties have a value of roughly EUR2.6 billion. News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-05-20 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: SATO Oyj Finland ISIN: FI0009011688 End of News DGAP News-Service --------------------------------------------------------------------- 359583 2015-05-20
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